Affordable rents for Small Businesses

Meeting: 
MQT on 2008-11-12
Session date: 
November 12, 2008
Reference: 
2008/2504
Question By: 
Andrew Boff
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

What action is being taken by TfL to ensure that there are more affordable rents for the small businesses who are its tenants?

Answer

Answer for Affordable rents for Small Businesses

Answer for Affordable rents for Small Businesses

Answered By: 
The Mayor

As a Public Authority, TfL is obliged to obtain best value for its property assets. Levels of vacancy within TfL's Commercial Portfolio are substantially lower than market comparators due to substantial demand for units at the current levels of rents which suggests that rents are priced at a competitive level and therefore no further action is proposed.